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Tuesday, December 11, 2012

Our Societal Ticks Are Fat And Happy

Want to see what we spend on that 47 % that Romney spoke of. I know most of it goes to those who run said programs but bottom line does it really matter who gets it. We know where it comes from. And obama wants to increase spending on these programs .....question .....HOW. Are we going to borrow even more money or is this where that evil rich tax increase going to go. Remember these numbers the next time the liberals tell you we don't spend enough on our poor. He is keeping his base happy ... I have to give him that.

Dec072012

Based on data from the Congressional Research Service, cumulative
spending on means-tested federal welfare programs, if converted into
cash, would equal $167.65 per day per household living below the
poverty level. By comparison, the median household income in 2011 of
$50,054 equals $137.13 per day. Additionally, spending on federal
welfare benefits, if converted into cash payments, equals enough to
provide $30.60 per hour, 40 hours per week, to each household living
below poverty. The median household hourly wage is $25.03. After
accounting for federal taxes, the median hourly wage drops to between
$21.50 and $23.45, depending on a household’s deductions and filing
status. State and local taxes further reduce the median household’s
hourly earnings. By contrast, welfare benefits are not taxed.
The universe of means-tested welfare spending refers to programs
that provide low-income assistance in the form of direct or indirect
financial support—such as food stamps, free housing, child care,
etc.—and which the recipient does not pay into (in contrast to Medicare
or Social Security). For fiscal year 2011, CRS identified roughly 80
overlapping federal means-tested welfare programs that together
represented the single largest budget item in 2011—more than the nation
spends on Social Security, Medicare, or national defense. The total
amount spent on these federal programs, when taken together with
approximately $280 billion in state contributions, amounted to roughly
$1 trillion. Nearly 95 percent of these costs come from four categories
of spending: medical assistance, cash assistance, food assistance, and
social / housing assistance. Under the President’s FY13 budget
proposal, means-tested spending would increase an additional 30 percent
over the next four years.